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Last updated 9:53PM ET
March 5, 2021
Alabama
Alabama
Creditors Approve Delphi Bankruptcy Plan
(2008-01-17)
(APR - Alabama Public Radio ) - Auto parts supplier Delphi said today it has won approval from creditors for its plan to emerge from Chapter 11 bankruptcy protection. The company operates three plants in Alabama.

The Michigan-based company is seeking a federal judge's approval of the plan in a two-day hearing in New York scheduled to begin today.

Delphi says 81 percent of about 4,000 eligible creditors who voted on the plan have endorsed it.

In a bankruptcy court filing, the company says it expects to have a $6.1 billion exit loan in place by early next month. General Motors spun off its parts-making operations as Delphi in 1999.

(Copyright 2008 by The Associated Press. All Rights Reserved.)
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